Christopher & Banks Corporation Reports a 19% Increase in August Same-Store Sales; Same-Store Sales Increase 21% for the Second Quarter

Business Wire, August 31, 2000

Business Editors

MINNEAPOLIS--(BUSINESS WIRE)--Aug. 31, 2000

Christopher & Banks Corporation (Nasdaq: CHBS), formerly Braun's Fashions Corporation, today reported a 19% increase in August same-store sales for its four-week period ended August 26, 2000. Total sales for the four-week period ended August 26, 2000, rose 39% to $12.6 million from $9.1 million last year.

For the second quarter ended August 26, 2000, same-store sales rose 21%. Total sales for the second quarter increased 42% to $41.5 million from $29.2 million last year. For the six months ended August 26, 2000, same-store sales rose 21%. Total sales for the six months year-to-date increased 44% to $83.9 million from $58.4 million last year. As of August 26, 2000, the Company operated 252 stores compared with 210 stores at August 28, 1999.

Bill Prange, Chairman and Chief Executive Officer commented, "We are very pleased with the continued strength in our same-store sales. Our 19% increase in August same-store sales follows a 16% increase in last year's August same-store sales. Sales were strong across all product categories and the positive customer response to our latest assortments is very encouraging."

Mr. Prange concluded, "In late August, we opened 9 C.J. Banks stores, catering to the casual wardrobing needs of 35 to 55 year old large-sized women. Although open for only a portion of the month, sales at these stores were in line with our expectations and we are very excited about the growth opportunities provided by this new concept."

Christopher & Banks Corporation is a Minneapolis-based specialty retailer of women's clothing providing exclusive fashions under the Christopher & Banks label. Including the 9 C.J. Banks stores opened in August 2000, the company operates 252 stores in 27 states, located primarily in the northern half of the United States.

This release contains forward-looking statements regarding future performance of the Company. The achievement of such results is subject to certain risks and uncertainties, including changes in economic, market and weather conditions, the effect of consumer tastes and spending habits, the realization of expected economies gained through the use of private label and direct import merchandise, management of growth and other factors outside the Company's control, including factors discussed from time to time in the company's filings with the Securities and Exchange Commission. Readers are cautioned not to place undue reliance on forward-looking statements, which reflect management's analysis only as of the date hereof.

The Company undertakes no obligation to update these forward- looking statements to reflect events or circumstances that may arise after the date hereof.

For more information on Christopher & Banks Corporation, visit our website at www.christopherandbanks.com